TALLAHASSEE, Fla.–Approximately 70 credit union branches in southwestern and south central Florida remained closed yesterday as a result of the damage caused by Hurricane Ian.
In many places electricity is still out and flooding remains, and credit unions are scrambling to assess the damage to their own operations, the status of their employees as well as the condition of many of their members.
According to the League of Southeastern Credit Unions, between Friday, Sept. 30 and Monday, Oct. 3, the number of Florida credit union branch closures decreased from more than 105 to roughly 73.
The league said it has been coordinating disaster relief efforts to ensure credit unions and their teams have the resources they need to “get through this difficult time.”
As CUToday.info reported earlier, relief efforts have included delivering more than 65 generators to areas in need, and the league said nearly $185,000 through the Southeastern Credit Union Foundation to assist with immediate and long-term needs, collecting recovery equipment, mobilizing the Southeast Disaster Coordinating Council, and more.
‘Incredibly Grateful’
“We are incredibly grateful for the outpouring of support from credit union communities across the country who reached out immediately following the Hurricane and graciously offered resources to assist in recovery efforts,” noted Patrick La Pine, CEO of LSCU & Affiliates. “Please consider contributing to the Southeastern Credit Union Foundation or to CU Aid to assist credit unions, their teams, and their families working to get through this hardship. Whether it’s restoring power to ensure families can keep medication and food refrigerated, purchasing diapers for children in need, or providing tarps to protect institutions from the next round of rain, every penny helps with recovery efforts.”
Counties still dealing with issues related to the storm include: Brevard, Charlotte, Collier, DeSoto, Hardee, Highlands, Lee, Flagler, Manatee, Orange, Pinellas, Polk, Sarasota, Seminole, and Volusia.
Resources Available
The League of Southeastern CUs reminded that for those affected, resources available include:
- Southeast Credit Union Foundation grants to assist with immediate and long-term needs (food, water, ice, batteries, diapers, temporary shelters, transportation, assistance rebuilding or relocating, replacing lost items, etc.)
- National Credit Union Administration urgent need grants up to $7,500 available for low-income institutions.
CU Offering Emergency Loan
At least one credit union has already responded with an emergency loan. Melbourne, Fla.-based Space Coast Credit Union is offering a low-rate loan for members with amounts to $5,000; a 12-month term at 2.99% or 13-24 months at 7.99%; a minimum payment of $10 monthly, and no prepayment penalty.